For everyone who bemoans Fortune 500 companies for pocketing gratuitously large incentive packages, they’re right for being upset. But their finger-pointing is badly misguided.
It should be aimed at overzealous, short-sighted public officials whose responsibility should be to the common good of their taxpayers, not the capitalist corporations whose loyalties lie with their own cashboxes and shareholders. We shouldn’t be aghast by companies looking to cut expenses and better margins any chance they get. We should repudiate elected leaders who allow them to do that with such cloying glorification that not only are we citizen onlookers shouldering the company’s tax burden but we’re also practically massaging the executives’ feet each night and ironing their Versace shirts each morning. A grant here, a credit there, fine, but there’s been a dangerous escalation in these corporate goody bags.
For that very reason, I admit I expected to be writing this column in significantly more…Read the full story from the Washington Business Journal.